VeriFone Announces PAYware Mobile Enterprise Solution and Services for Large Retailers

Adapts Smart Mobile Devices for Use in Mobile Payment Acceptance, Inventory Control, and Out of Store Delivery and Service Calls

NEW YORK (NRF 2011 - Booth 659) - VeriFone Systems, Inc. (NYSE: PAY), today announced PAYware Mobile Enterprise, a secure mobile card acceptance solution that integrates with existing in-store POS systems. In addition to enabling new in-store mobile applications, the solution is supported by VeriFone's PAYware Connect gateway for remote payment acceptance outside of store environments.

PAYware Mobile Enterprise incorporates a PCI-approved PIN debit keypad, which allows merchants to leverage dramatically lower transaction costs, and a 2D bar code scanner for quickly and efficiently performing mobile check out or inventory control tasks. In addition, PAYware Mobile Enterprise features built-in NFC and EMV smartcard capabilities, ensuring North American retailers are ready to embrace NFC-enabled mobile phones and the highly anticipated rollout of EMV smartcards.

"With PAYware Mobile Enterprise, retailers can revolutionize customer service and store operations by utilizing versatile mobile applications and secure payment acceptance integrated with existing POS infrastructure," said Erik Vlugt, VeriFone vice president of product marketing. "VeriFone's card encryption and tokenization solution for smart devices isolates payment actions to ensure retailers can maintain a secure payment environment."

PAYware Mobile Enterprise is the first commercially viable solution to integrate mobile payment devices into a PCI-compliant environment and drastically reduce PCI scope and the merchant's overall risk profile.

Smartphones and WiFi-equipped PDAs, while rich application platforms, were not designed for use as payment acceptance devices and thus generally do not adhere to payment industry security requirements. To keep these otherwise vulnerable mobile devices out of PCI scope, PAYware Mobile Enterprise incorporates VeriFone's VeriShield Total Protect, which provides encryption and tokenization in one all-encompassing solution framework to protect data in-flight and at-rest and to isolate payment activities from device applications and storage.

With PAYware Mobile Enterprise, retailers can equip store personnel with smart mobile devices that feature rich graphical displays and compact form-factors for roaming checkout operations, so that items can be scanned, payment cards accepted and receipts emailed to customers or transmitted to a nearby wireless printer with ease.

VeriFone will provide customized applications, and critical management, decryption/tokenization and gateway services to enable new mobile applications such as in-store queue-busting, inventory management and out-of-store delivery and service calls. VeriFone provides managed services options including initial application load, key injection, updates, maintenance, licenses and warranty for a monthly fee.

The initial release of PAYware Mobile Enterprise is scheduled for early 2011 and VeriFone is previewing the solution at the National Retail Federation show in New York this week.

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